eCentive™ Account Terms and Conditions

TRUTH IN SAVINGS DISCLOSURE

This disclosure contains information about terms, fees, and interest rates for eCentive™ Account.

Today’s Date is Saturday, August 27, 2016.

Account Opening

To open this account you must deposit at least $100.00 into the account.

Variable Rate Information

The interest rate and annual percentage yield stated below are accurate as of Saturday, August 27, 2016.  If you would like more current rate and yield information please call us at (800) 344-7048.

When the eCentive Account qualifications are not met, the interest rate on your account is 0.05% and corresponding annual percentage yield (APY) is 0.05%.

When the eCentive Account qualifications are met, the interest rate on your account for balances up to $25,000 is 1.25% with a corresponding annual percentage yield (APY) of 1.26% for the entire statement cycle.  The interest rate on balances over $25,000 is 0.10% with a corresponding annual percentage yield (APY) of 0.10%.

Your interest rate and annual percentage yield may change. We may change the interest rate on your account daily, at our discretion.

You must maintain a daily collected (available) balance of $0.01 to obtain this disclosed annual percentage yield. We use the daily balance method to calculate interest on your account. This method applies a daily periodic rate to the principal in the account each day.

Interest will begin to accrue no later than the business day we receive credit for non-cash items, i.e., checks you deposit to your account.

We reserve the right to require written notice, 7 days in advance, before we allow you to withdraw from an interest bearing account.

Interest will be compounded monthly and credited monthly. If you request to close your account prior to interest being credited, you will receive your accrued interest. Fees may reduce earnings.

eCentive Account Qualifications

  • Have 10 debit card point of sale payments and/or purchases (excluding ATM transactions) post to your account per statement cycle
  • Receive your monthly statement electronically
  • Have one direct deposit or one automatic payment (ACH) per statement cycle

When you meet the eCentive Account qualifications we will refund up to $25.00 per statement cycle of domestic ATM fees and MasterCard cross border/currency conversion fees for foreign debit card transactions.

Service Charge Information

If you do not initiate at least one deposit or withdrawal on this account in a 12 month period, the account will go inactive. If the account continues to go 24 months without at least one deposit or withdrawal initiated by you, your account will go dormant. There will be a monthly service charge as long as your account is inactive or dormant. We reserve the right not to send statements on accounts we consider dormant, subject to state law. Funds in abandoned accounts will be sent to a state agency, in accordance with state law. After the funds have been sent to the state, we are not responsible for them. If you choose to reclaim the funds, you must apply to the state agency. See Additional Terms for corresponding fees.

Additional Terms

Inactive or Dormant account*: $10.00 per month
Abandoned account*: $50.00, one-time fee
Account closure within 6 months of account opening*: $30.00
On any one business day if you bring your account to a zero balance, we will assume you wish to close your account. This will cause deposits or withdrawals to reject.
Reopen Closed Account: First 2 times, no charge; $10.00 per time thereafter
Counter Checks*: $0.25 per item
Mailed Paper Statements*: $3.00 – waived if enrolled in eStatements
Foreign Deposited Check*: $5.00 per check
Deposited items returned*: $6.00 per returned check
Foreign Deposited items returned*: cost plus $6.00 per returned check
Stop Payments*: $35.00 per item, no max
Overdrafts/NSFs: $32.00 per item
Returned NSF Items: $35.00 per item
Photo Debit Card*: $10.00 per card
Replacement Debit Card*: $10.00 for replacement

* All Fees marked with an asterisk (*) are subject to Iowa State sales tax of 7.00%

For a complete list of service charges please refer to our Consumer Fee Schedule


Heritage Locations

MINNESOTA:
  • Pennock MN - 242 1st Street N PO Box 189 Pennock, MN 56279-0189
  • Raymond MN - 202 Cofield Street PO Box 235 Raymond, MN 56282
  • Spicer MN - 110 South Street W PO Box 658 Spicer, MN 56288-0658
  • Willmar MN - 310 1st Street SW PO Box 1124 Willmar, MN 56201-1124
IOWA:
  • Alta IA - 202 Main St Alta, IA 51002
  • Anthon IA - 115 E Main St P.O. Box G Anthon, IA 51004
  • Aurelia IA - 148 Main St P.O. Box 626 Aurelia, IA 51005
  • Cushing IA - 107 Main St P.O. Box 136 Cushing, IA 51018
  • Holstein IA - 101 N Main St P.O. Box 100 Holstein, IA 51025
  • Lytton, IA - 200 Main St P.O. Box 229 Lytton, IA 50561
  • Sioux City IA - Downtown - 505 5th Street, Suite 100 Sioux City, IA 51101
  • Sioux City IA - Morningside - 4530 Singing Hills Blvd Sioux City, IA 51106



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Revised: 5/2/2016